Rainbow Rare Earths Ltd (LON:RBW) has released an update on its pilot plant operations for the Phalaborwa rare earths project in South Africa, with the latest results expected to further demonstrate the project's potential to be one of the lowest cost magnet rare earth projects in development today.
George Bennett, CEO at Rainbow Rare Earths, talks investors through an update on the Company's pilot plant operations in South Africa and USA which has demonstrated significant optimisation opportunities and potential cost-saving measures.
In this interview, investors will learn:
- How overall recovery rates of rare earths increased from 65% in the PEA to 66%
- How the Company intends to reduce energy and opex costs by up to 50%
- Why 95% Nd/Pr purity marks a significant step towards the company's goal
George Bennett, CEO, commented; ''We might even be a lower cost producer than China''
Rainbow is now working on an updated report, expected to be released in the second half of this year, which will further detail these optimisation initiatives and provide a clear path towards securing project financing and development.
Reasons to add RBW to your watchlist:
1) Latest test results confirm Phalaborwa as one of the lowest capital-intensive rare earths projects globally.
2) Strong upcoming news flow including an updated project report in H2 2024 ahead of project financing discussions
3) Definitive feasibility study (DFS) expected H1 2025
4) Strong support from US government with the DFC ( Development Finance Corporation) committing to provide $50 million in equity to the Phalaborwa project.
5) Accelerating moves in Europe and the US to create an independent supply of critical minerals outside of China
